Which of the following is related to economic dimension of business environment?
Answer & explanation
Correct answer: option 1
The correct answer is option 1- Modes of transportation communication facilities.
Modes of transportation communication facilities is related to economic dimension of business environment.
The economic environment refers to the conditions and factors that affect the functioning of businesses and organizations within an economy. It encompasses various aspects related to the economic system. Some Components of Economic Environment are as follows-
* Existing structure of the economy in terms of relative role of private and public sectors.
* The rates of growth of GNP and per capita income at current and constant prices.
* Rates of saving and investment
* Volume of imports and exports of different items.
* Balance of payments and changes in foreign exchange reserves.
* Agricultural and industrial production trends.
* Expansion of transportation and communication facilities.
* Money supply in the economy.
* Public debt (internal and external).
* Planned outlay in private and public sector.
OTHER OPTIONS
- Life expectancy and expectations from the workforce- Social environment.
- Legislations passed by the government and regulations laid down by government authorities- Legal environment.
- Technological developments and innovations- Technological environment.